Rakuten logs ¥19.4 billion net profit

Rakuten Inc. logged a group net profit of ¥19.41 billion for the business year through December, in a turnaround from the previous year’s loss of ¥2.29 billion on the costs of restructuring its credit card businesses.

The Tokyo-based online shopping mall operator said Thursday it had an operating profit of ¥72.26 billion, up 2.1 percent, on sales of ¥443.47 billion, up 16.7 percent. Both figures were records for the company.